Smithsonian Sees Silver Linings in Tough Economic Times
April 7, 2009 | Read Time: 1 minute
A steady flow of donations and increased federal funding have helped the Smithsonian Institution offset the impact of a 30-percent decline in its endowment since late 2007, reports The Washington Post.
Attendance was up in the first quarter of 2009, public fund-raising is on track with $48-million collected since October, and the institution got $25-million from the economic-stimulus package, along with a 7-percent boost in its regular federal funding.
Following yesterday’s meeting of the institution’s Board of Regents, Smithsonian Secretary Wayne Clough announced plans to extend spring and summer opening hours for its popular Air and Space, Natural History, and American History museums to boost revenue from food and merchandise sales, the Associated Press reports.
The meeting was the first full gathering of the regents led by new Chairwoman Patricia Stonesifer, The Washington Post reports in a profile of the former Microsoft and Bill & Melinda Gates Foundation executive.
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